Global Metal Cans for Food and Beverage Market is Forecast to Touch USD Billion by 2027, Growing at a CAGR From 2020 to 2027
Published | 10 January 2021
According to BlueWeave Consulting, the Global Metal Cans for Food and Beverage Market has reached USD Million in 2019 and is further projected to reach USD billion by 2027, growing at a CAGR of during the forecast period. The cans are majorly used for food and beverage packaging; they were introduced in the 19th century to be precise. Cans were used for storing food and related items. But later, it branched to many industrial applications such as chemicals, oils, food, and beverage items. These cans are manufactured from aluminum and steel. The metal cans are popularly used for the distribution as well as the storage of many products in various industries.
Environment-related factors to come into play
One of the major aspects of using cans (aluminum and steel) is that they support the environment’s well-being. Not directly but inversely, as the extensive use of the canned items/products has caused a certain decline of plastics and related packaging products, especially the ones which are non-biodegradable or non-recyclable.
Increased disposable income and health-related benefits
The rise in disposable income among populations primarily in urban settings has played a significant role in market growth. The popularity of can packaged foods and beverages which are ready to eat and ready to drink, consume have attracted a large part of the urbanized population.
North America to reign the market
North America, accounted for the largest market share for the metal cans packaging market for food and beverages, in the year 2019. This is because the major populations in the region are turning towards environmental sustainability and having lifestyle approaches to support the same. Henceforth, the food and beverage packaging are preferred over and is popularly used. Moreover, the North American region is one of the world’s key producers of food and beverages, making it also one of the biggest receivers of can metal food & beverage packaging.
The market is filled with prominent players such as Ardagh Group, Ball Corporation, CAN-PACK, CPMC Holdings, Crown Holdings, HUBER Packing Group, Kian Joo Group, King Can Holdings Ltd, Tetra Laval International, and others.
The in-depth analysis of the report provides the growth potential, upcoming trends, and statistics of the Global Metal Cans for Food and Beverage Market size & forecast. The report promises to provide state-of-the-art technology of the Global Metal Cans for Food and Beverage Market and industry insights, which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers, challenges, and competitive analysis of the market.
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